ANI PR Wire
03 Aug 2022, 19:00 GMT+10
Mumbai (Maharashtra) [India], August 3 (ANI/NewsVoir): Savita Oil Technologies Limited, a leading manufacturer of speciality petroleum products, announced its unaudited Financial Results for the quarter ended June 30, 2022.
Key Highlights
- In an EGM held on 29-Jul-22, Shareholders have approved Sub-division of every 1 (One) Equity Share of the Nominal/Face Value of Rs 10/ - (Rupees Ten Only) each into 5 (Five) Equity Shares of the Nominal Face Value of Rs 2 /- (Rupees Two Only) each.
- In Q1 FY23, EBITDA per KL/MT stood at Rs 13,439.
Commenting on the performance, Gautam N. Mehra, Chairman and MD, SAVITA Oil Technologies Limited said, "I am happy to report that we have started FY23 on a very strong note as we recorded our highest ever quarterly performance. Our total income surged by 41 per cent on YOY basis to Rs 906 Crore, with a healthy EBIDTA margin of 15 per cent. The growth in total income was driven by a combination of volume as well as price uptick across both Petroleum Specialty Oils as well as Lubricating Oils. This healthy performance reflects robust demand for our quality products backed by strong R&D capabilities as well as our solid operational capabilities, a strong balance sheet with NIL borrowings and healthy liquidity position."
Established in 1961, SAVITA Oil Technologies Limited (BSE: 524667| NSE: SOTL) is a leading manufacturer of speciality petroleum products. SAVITA has developed and manufactured a broad array of products including Transformer Oils, Liquid Paraffins, White Oils, Automotive and Industrial Lubricants, Coolants and Greases, among others. Headquartered in Mumbai, the Company has world-class manufacturing facilities situated in the state of Maharashtra and at Silvassa in the Union Territory of Dadra and Nagar Haveli and Daman & Diu.
SAVITA serves varied industries such as Power Generation and Distribution, Automotive, Thermoplastic rubber, FMCG, Plastics, Pharmaceutical, Agriculture, Refrigeration, Polymers, among others. In addition to catering to a sizeable B2B clientele, our popular range of lubricants, greases, and coolants are sold to retail customers under the brand SAVSOL.
Its consistent investments in green energy production have made it Asia's only petroleum speciality company which is carbon positive. Its Environmental Management System is IS0 14001:2015 certified. Besides, the windmills are located at 18 sites in the states of Maharashtra, Tamil Nadu, and Karnataka with an installed capacity to produce 54.15 MW of wind-powered electricity.
For more information, please visit www.savita.com.
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project-related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
Get a daily dose of Myanmar Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Myanmar Sun.
More InformationWASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
Nearly three months after a devastating earthquake struck Myanmar, the country remains trapped in a deepening crisis, compounded by...
Birmingham [UK], July 5 (ANI): Rishabh Pant made history on Saturday, becoming the first Asian wicketkeeper-batter to score 2,000 runs...
Kabul [Afghanistan], July 5 (ANI): A large number of Afghans recently deported from Iran are facing severe challenges, including homelessness,...
Kathmandu [Nepal], July 5 (ANI): The Nagarik Unmukti Party has decided to walk out of the ruling alliance led by Nepal Prime Minister...
Raipur (Chhattisgarh) [India], July 5 (ANI): BJP MP Sudhanshu Trivedi on Saturday slammed Congress MP Rahul Gandhi over his remarks...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...